Biden Got Us Into This Oil Price Mess

[Oldestyle]

Then explain how the numbers in the chart are incorrect.
Because 12,000 > 10,500
View attachment 707452

First...include in your "chart" what the numbers mean! Duh?

 

[Winco]

What mess? OPEC+ cuts production to hurt the US economy. The USA leads the world in oil production. Time to cancel those military contracts with SA.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

First...include in your "chart" what the numbers mean! Duh?

My bad, Post #10, I assumed that an intelligent person would read the thread and not just randomly comment.
I was wrong about you.
Now read Post #10, and then tell us AGAIN how biden CUT production.

 

[Flopper]

That may be the dumbest post on this site today, Flopper! What economists think the "link" between Government spending and inflation is "weak"? Name the idiots...I dare you!

The Federal Reserve Bank of St. Louis finds government spending has little to no effect on inflation.

How Does Government Spending Affect Inflation?

Growth of the U.S. economy has been anemic. Would more government spending help boost it?

www.stlouisfed.org

 

[Oldestyle]

My bad, Post #10, I assumed that an intelligent person would read the thread and not just randomly comment.
I was wrong about you.
Now read Post #10, and then tell us AGAIN how biden CUT production.

You expect someone to remember that when we're on page 11 of the string and that's "my" fault? Right...

 

[Oldestyle]

The Federal Reserve Bank of St. Louis finds government spending has little to no effect on inflation.

How Does Government Spending Affect Inflation?

Growth of the U.S. economy has been anemic. Would more government spending help boost it?

www.stlouisfed.org

With all due respect, Flopper? If you can't tell the difference in the Economy between 2016 and 2022 then we need to talk!

 

[Winco]

You expect someone to remember that when we're on page 11 of the string and that's "my" fault? Right...

So, you asked, I provided, now ......... has biden cut oil production or not.

Simple Yes or No.

 

[bripat9643]

Hahaha.. No, stupid.

Oil Nations, Prodded by Trump, Reach Deal to Slash Production (Published 2020)

The deal will reduce output by 9.7 million barrels a day. While significant, the cut falls far short of what is needed to bring oil production in line with demand.

www.nytimes.com

Your article is behind a paywall. I'll never give any money to the NYT.

 

[Winco]

So, you asked, I provided, now ......... has biden cut oil production or not.

Simple Yes or No.

Oldestyle , simple question.

Yes or No

 

[Flopper]

With all due respect, Flopper? If you can't tell the difference in the Economy between 2016 and 2022 then we need to talk!

The study was looking at inflation periods 1946–48, 1950–51, 1969–71, 1973–82, and 2008. The current inflationary period is on going thus it can not be studied. The 1946-48 inflation period is a good comparisons with the current period.

Historical Parallels to Today’s Inflationary Episode | CEA | The White House

By Chair Cecilia Rouse, Jeffery Zhang, and Ernie Tedeschi Introduction Supply chain disruptions are having a substantial impact on current economic conditions. Economy-wide and retail-sector inventory-to-sales ratios have hit record lows; homebuilders are reporting shortages of key materials...

www.whitehouse.gov

A study by the Federal Reserve of San Francisco found that a little less have of the current inflation was due to federal spending. "In this Economic Letter we argue that, among other reasons explored by the literature, the sizable fiscal support measures aimed at counteracting the economic collapse due to the COVID-19 pandemic could explain about 3 percentage points of the recent rise in inflation.

Why Is U.S. Inflation Higher than in Other Countries? - San Francisco Fed

Inflation rates in the United States and other developed economies have closely tracked each other historically. Problems with global supply chains and changes in spending patterns due to the COVID-19 pandemic have pushed up inflation worldwide. However, since the first half of 2021, U.S...

www.frbsf.org

 

[bripat9643]

The study was looking at inflation periods 1946–48, 1950–51, 1969–71, 1973–82, and 2008. The current inflationary period is on going thus it can not be studied. The 1946-48 inflation period is a good comparisons with the current period.

Historical Parallels to Today’s Inflationary Episode | CEA | The White House

By Chair Cecilia Rouse, Jeffery Zhang, and Ernie Tedeschi Introduction Supply chain disruptions are having a substantial impact on current economic conditions. Economy-wide and retail-sector inventory-to-sales ratios have hit record lows; homebuilders are reporting shortages of key materials...

www.whitehouse.gov

You actually swallow this obviously self serving horseshit?

 

[Oldestyle]

So, you asked, I provided, now ......... has biden cut oil production or not.

Simple Yes or No.

Of course he's cut production of fossil fuels, Winco and the worst is yet to come because it takes years for new projects to come on line. The reason that he's BEGGING others to increase production is that we don't have any in the "pipeline" and won't for quite some time! Biden's already raided the Strategic Oil Reserves so he can't keep going there or we're really screwed in an emergency. Oil and natural gas prices are set by what the market sees in the future and Joe Biden let them know from day one of his administration that the fossil fuel industry was their enemy and not their friend! Joe and his progressive handlers cut oil and natural gas production that first week they were in office and they couldn't care less who got hurt by their policies!

 

[Oldestyle]

The study was looking at inflation periods 1946–48, 1950–51, 1969–71, 1973–82, and 2008. The current inflationary period is on going thus it can not be studied. The 1946-48 inflation period is a good comparisons with the current period.

Historical Parallels to Today’s Inflationary Episode | CEA | The White House

By Chair Cecilia Rouse, Jeffery Zhang, and Ernie Tedeschi Introduction Supply chain disruptions are having a substantial impact on current economic conditions. Economy-wide and retail-sector inventory-to-sales ratios have hit record lows; homebuilders are reporting shortages of key materials...

www.whitehouse.gov

A study by the Federal Reserve of San Francisco found that a little less have of the current inflation was due to federal spending. "In this Economic Letter we argue that, among other reasons explored by the literature, the sizable fiscal support measures aimed at counteracting the economic collapse due to the COVID-19 pandemic could explain about 3 percentage points of the recent rise in inflation.

Why Is U.S. Inflation Higher than in Other Countries? - San Francisco Fed

Inflation rates in the United States and other developed economies have closely tracked each other historically. Problems with global supply chains and changes in spending patterns due to the COVID-19 pandemic have pushed up inflation worldwide. However, since the first half of 2021, U.S...

www.frbsf.org

Really, Flopper? So we have the same conditions NOW that were in existence following WWII? Do you really want to make that contention?

 

[Oldestyle]

The study was looking at inflation periods 1946–48, 1950–51, 1969–71, 1973–82, and 2008. The current inflationary period is on going thus it can not be studied. The 1946-48 inflation period is a good comparisons with the current period.

Historical Parallels to Today’s Inflationary Episode | CEA | The White House

By Chair Cecilia Rouse, Jeffery Zhang, and Ernie Tedeschi Introduction Supply chain disruptions are having a substantial impact on current economic conditions. Economy-wide and retail-sector inventory-to-sales ratios have hit record lows; homebuilders are reporting shortages of key materials...

www.whitehouse.gov

A study by the Federal Reserve of San Francisco found that a little less have of the current inflation was due to federal spending. "In this Economic Letter we argue that, among other reasons explored by the literature, the sizable fiscal support measures aimed at counteracting the economic collapse due to the COVID-19 pandemic could explain about 3 percentage points of the recent rise in inflation.

Why Is U.S. Inflation Higher than in Other Countries? - San Francisco Fed

Inflation rates in the United States and other developed economies have closely tracked each other historically. Problems with global supply chains and changes in spending patterns due to the COVID-19 pandemic have pushed up inflation worldwide. However, since the first half of 2021, U.S...

www.frbsf.org

"Inflation rates in the United States and other developed economies have closely tracked each other historically. Problems with global supply chains and changes in spending patterns due to the COVID-19 pandemic have pushed up inflation worldwide. However, since the first half of 2021, U.S. inflation has increasingly outpaced inflation in other developed countries. Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021."

Why did you cherry pick that part of the quote and leave out the rest, Flopper? Oh, my bad...obviously you left out the part that shoots holes in your contention?

 

[Winco]

Of course he's cut production of fossil fuels,

SO the data in the chart is incorrect?

Joe and his progressive handlers cut oil and natural gas production that first week they were in office

So the data in the chart is incorrect?

Can you pinpoint the Cut in Production? Please.

Biden may be on video saying such and such, but the actual numbers don't lie.
Why do you LIE?

 

[Oldestyle]

SO the data in the chart is incorrect?

So the data in the chart is incorrect?

View attachment 707501

Can you pinpoint the Cut in Production? Please.

Biden may be on video saying such and such, but the actual numbers don't lie.
Why do you LIE?

For the second time...would you provide a graph whose numbers correlate to something? Or at least give me something I can click on to see what you should have posted in the first place?

 

[Flopper]

For the second time...would you provide a graph whose numbers correlate to something? Or at least give me something I can click on to see what you should have posted in the first place?

United States Crude Oil Production

Crude Oil Production in the United States increased to 13182 BBL/D/1K in March from 13105 BBL/D/1K in February of 2024. This page provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term...

tradingeconomics.com

 

[Flopper]

United States Crude Oil Production

Crude Oil Production in the United States increased to 13182 BBL/D/1K in March from 13105 BBL/D/1K in February of 2024. This page provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term...

tradingeconomics.com

I think selection of 5 yrs under summary will give you what you want.

 

[Oldestyle]

So you two are baffled by the rise in prices when production has come back after Covid? As I said before oil and natural gas projects take years to come on line. Are you aware that even as we speak the Biden Administration is talking about banning all off shore drilling permits until 2028? So if you're a fossil fuel executive are you bringing oil platforms to US waters to drill? Of course you're not. That's what happens when your policies do things like shut down pipelines and increase the price of drilling permits. You're sending messages. Messages that executives read loud and clear.

 

[Winco]

For the second time...would you provide a graph whose numbers correlate to something? Or at least give me something I can click on to see what you should have posted in the first place?

The graph was in post #10

 

[surada]

It's pathetic what this Administration has to do to get oil! They go hat in hand begging countries with some of the worst human rights records on the planet because their own anti oil and natural gas polices have our own producers not producing!

Have you ever lived abroad?

The U.S. is the world's largest oil producer. You'll still pay more for gas.

When the Organization of the Petroleum Exporting Countries and its partners - often known as OPEC Plus - announced a production cut of 2 million barrels of oil on Wednesday, the reaction in the United States was less than positive. In a statement, the White House called the decision...

news.yahoo.com